FUND5 - here we go! $2,125,000 to be distributed in total!
Time to get close and personal with Cardano on-chain governance!
Note: This post is relevant to CASTING VOTES. I will keep updating this information as this rolls in to keep it up to date.
In case you get lost, confused, run into any sort of trouble, follow the links at the end of this post for support.
Where voting registration is possible?
VOTER REGISTRATION FOR FUND5 IS NOW CLOSED! NEXT OPPORTUNITY IS FUND6.
IMPORTANT: If you registered in Fund4 and were able to cast votes - you will be logging into your Catalyst App using Fund4 QR and PIN codes. If you registered again - use the latest QR and PIN codes. This does not apply to Fund2 or Fund3 registrations. If you lost QR or PIN code - you may be out of luck to vote in this round as there is no way to recover these. If app gives you troubles - try to reinstall and re-scan QR codes once live.
What’s the timeline like for Fund5?
- July 22 , 2021 @ 11:00 UTC - VOTING START
- August 2, 2021 @ 11:00 UTC - VOTING END
- ± August 9, 2021 - RESULTS
- ± week of August 16th - INCENTIVES distribution
- Note: Fund6 proposal submission is expected to start in mid to late August
How/where to vote?
- Voting will start only on July 22nd, 2021 at 11:00 UTC
- YOU CANNOT VOTE PRIOR THIS DATE
- Until then - Voting App will show voting power as 0 (zero)
- Without QR and/or PIN code you will NOT be able to vote
- Ensure to have a back up copy of both!
- YOU CANNOT VOTE PRIOR THIS DATE
- Project Catalyst Voting App (use ONLY official apps)
- iOS: v0.1.13 Catalyst Voting on the App Store (only iPhone7 and higher are supported)
- Android: v0.1.13 https://play.google.com/store/apps/details?id=io.iohk.vitvoting
What else to keep in mind?
- The voting power represents the amount of ada you held and registered at the time of snapshot that took place on July 19, 2021 @ 11am UTC.
- 500 ada = 500 voting power
- 5,000 ada = 5,000 voting power
- 50,000 ada = 50,000 voting power
- Why is your voting power less than what your wallet shows?
- Any unclaimed rewards are NOT part of the voting power - hence the difference
- Also - staking does not prevent from voting and vice versa
- You can vote for only one proposal, all of them, or anything in between. There are NO limits.
- You are not spending your ada when voting, nor sending it anywhere. Voting power is a COPY of your real ada.
- You can vote again, while the voting round is running. Every next changed vote will overwrite the previous one, which means only the last vote is valid. Proposals you already visited will not have a blue border on the right side
- Your vote can be:
- YES vote (positive), NO vote (negative), or ABSTAIN (you take no action)
- You can change your mind and adjust your votes whenever until the deadline
- Once you vote YES or NO - you cannot presently revert back to ABSTAIN and will be asked to choose one of the two only options only
- Every time you vote - ALL your voting power is applied to any proposal you choose (think about firing a gun - how powerful the shot is - not number of bullets in it)
- If your voting power is 500 ada and you vote YES - 500 ada is added to the positive vote
- If your voting power is 500 ada and you vote NO - 500 ada is added to the negative vote
- If your voting power is 500 ada and you do not choose to vote - nothing happens
- Your voting power does NOT deduct when you cast votes. It always stays the same!
- Proposal can be considered for funding only in such case that it receives at least 15% or more YES votes than NO votes
- Top voted proposals get funded based on fund availability until there isn’t enough votes to fund any next proposal in the amount they’ve asked for
- During this time, there are no transaction fees incurred to cast your votes
- Vote is done on a side chain Jorgumandr, not a main net
- You cannot check progress of vote as it unfolds in the current format
- $297,500 in ada to be distributed to all participating voting power (relative to individual ada holdings)
- Amount of distribution is per ada not per wallet - and won’t be known until all registration of voting power is complete
- Fund5 Reward distribution is expected in mid August back to your registered wallet in the same format as your staking rewards (not as a separate transaction)
- Your wallet MUST be staked in order to receive voter rewards by the time of rewards distribution the latest.
- Whether you vote for one or all proposals - it has no effect on how much rewards you’d be getting as rewards are based on your voting power solely
- Once voting power is verified - will provide you with rewards calculator to estimate these
- Unsure about previous Fund4 rewards and how to see them? Check this post instead.
What will you be voting on in this Fund5 round?
Catalyst App is now being loaded with all the data necessary for you to start voting. You will have 10 days to cast your votes. It is important to take your time and understand your voting choices as that determines future direction of Cardano ecosystem.
This can be an intimidating task - knowing there are so many proposals out there that are competing for your attention and votes. One of the easiest ways how to start browsing is via this community made voter tool that enables you just that. Give it a try.
Note: each proposal has a ranking in form of 1 to 5 stars added to it. This rating represents the outcome of Community Advisor (CA) review of all proposals. CAs were asked to review each proposal and give it a ranking/scoring in three distinct categories - IMPACT, AUDITABILITY, FEASIBILITY - on the following scale:
- (1) I strongly disagree
- (2) I disagree
- (3) I neither agree nor disagree
- (4) I agree
- (5) I strongly agree
This score was then averaged from each of the three categories into one final score now visible inside the app from all valid participating CAs. Do keep in mind that these are guidelines and you are free to choose proposals based on your own understanding and research. Consider this as a useful tool in assisting your voter decision. You can learn about this in greater detail via Community Advisor Guidelines.
dApp Creation & Integrations
- 81 proposals trying to identify what dApps should be built to drive user adoption
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25941
- 47 proposals exploring: How to encourage developers to build dApps on top of Cardano
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25939
Distributed Decision Making
- 14 proposals exploring: How can we help the Catalyst community to get better at distributed decision making within the next two Catalyst rounds?
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25942
- 19 proposals exploring: How can we encourage entrepreneurs from outside the Cardano ecosystem to submit proposals to Catalyst in the next two funds?
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25943
Catalyst Value Onboarding
- 19 proposals exploring: How can we encourage more meaningful participation in Project Catalyst from community members in the next two funds?
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25944
- 25 proposals exploring: How can we utilize transaction metadata to solve real world problems?
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25945
Grow Africa, Grow Cardano
- 27 proposals exploring: How do we seed and grow Cardano in Africa?
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25947
Scale UP Cardano’s DeFi Ecosystem
- 21 proposals exploring: How can we encourage DeFi team to build/deploy open finance solutions on Cardano in the next 6 months?
- Browse Projects: https://cardano.ideascale.com/a/campaign-home/25948
Cardano Community Choice for
Fund7 will be active in Fund6 already - CHANGED
- 23 challenges suggested to get launched during Fund6 in order to fulfil Cardano’s mission
- Browse Proposals: https://cardano.ideascale.com/a/campaign-home/25946
- Note: these are NOT proposals for actual projects - but rather community driven choices of themes that anyone can submit actual proposals for during Fund6
- This allows Cardano community to vote on direction of fund dispersion
- If you come across an actual project proposal - this challenge is NOT intended for such purpose
Get in touch
Where to find Project Catalyst?
Announcements only: Telegram: Contact @cardanocatalyst
Subscribe to the mailing list: IOHK
Rewatch past town-halls: https://bit.ly/2UxT9Uv
Browse insights, ideas, and proposals: http://cardano.ideascale.com
Join main Telegram group: Telegram: Contact @ProjectCatalystChat
Go deeper with Catalyst Discord: Cardano Project Catalyst
Become Community Advisor/Mentor: Telegram: Contact @CatalystCommunityAdvisors
Join Proposal Owners: Telegram: Contact @catalystproposers
Help find bugs & test: Telegram: Contact @catalystdryruns
Get lost in data: Project Catalyst Dashboard - Cardano Governance - by Daniel Ribar - Google Sheets
See all funded proposals at glance: Miro | Online Whiteboard for Visual Collaboration